Yen at Four-Year Low, Nikkei Surges 1.5%

Hiruki Nakamura
25 Nov, 2013
New York City

Nikkei index in Tokyo surged 1.5% and extended year-to-date gain to 50% as the yen weakened. The yen dropped to a four-year low and exporters and automakers led the gainers.

[R]4:30 PM Tokyo – Nikkei index in Tokyo surged 1.5% and extended year-to-date gain to 50% as the yen weakened. The yen dropped to a four-year low and exporters and automakers led the gainers.[/R]

The yen edged to a four-year low and stock market responded ahead of inflation report this week.

The yen extended its loss against the U.S. dollar to 4% in the year so far and dropped 7% against the euro as the Bank of Japan and government work in tandem to weaken the currency.

The Nikkei 225 Stock Average jumped 237.41 or 1.5% to 15,619.13 and the Topix gained 11.04 to 1,259.61.

The yen climbed to 101.68 against one dollar and traded volatile and listless in the session today.

Stocks in Review

Toyota Motor Corp jumped 90 yen to 6,430 yen. Honda Motor Co. gained 70 yen to 4,365 yen.

Nissan Motor Co Ltd rose 2 yen to 930 yen after the LEAF electric vehicle equipped with the revolutionary technology took its first test drive on Sagami Expressway of Kanagawa prefecture in Japan. The vehicle was operated fully automatically on the highway.

Sony slipped 19 yen to 1,875 yen.

Softbank Corp increased 180 yen to 8,150 yen. Fast Retailing Co. dropped 300 yen to 36,800 yen.

Eisai Co., Ltd gained 35 yen to 3,980 yen after the pharmaceutical products maker received Marketing Authorization Holder license of anti-neo-plastic agent Gliadel 7.7 mg implant in Japan from Nobelpharma Co., Ltd.

Today the company also signed partnership agreement with Japan-based Tuberculosis Drug Accelerator to speed up the discovery of essential new treatments for tuberculosis.